Its truly a shame that the market generally doesn't have a clue on pellet premium price, nor the impact that it has to profitability.
Very little is published on iron ore pellets in Australia as Grange is the only pellet producer in Australia.
At the current pellet price of US$282/tonne or AUD$365/t Grange is making more profit per tonne than any other iron ore miner in Australia. This includes BHP, RIO and FMG. Even with their low production costs, Grange is making at least A$60/tonne more profit than any other miner.
Compared with MGX who are currently stripping at Shine and Koolan Island the grade is so low that Grange is getting US$130/tonne more.
The share price for these two companies need to reverse, ie Grange should be at 90c and MGX at 50c.
Grange even has 10x more resources not including Southdown.
The catch up has started and will accelerate after the quarterly reports next week.
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